{"product_id":"the-truth-about-day-trading-stocks-isbn-9780470448489","title":"The Truth About Day Trading Stocks","description":"\u003cp\u003e\u003cb\u003eThe Truth About Day Trading Stocks\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eA realistic guide to day trading today's stock market\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003eIn terms of the potential for heavy financial losses, day trading is a high-risk profession. No one should contemplate day trading without giving thought to the ways he can lose, and all the ways to lessen or avoid them. Yet many people enter the game with unrealistic expectations, unaware of what it takes to succeed. Seminars and software alone do not make a successful day trader, cautions author Josh DiPietro. Instead, a trader must learn hard lessons of self-discipline, consistency, and staying in the game for the long haul to have a real chance of success. In \u003ci\u003eThe Truth About Day Trading Stocks\u003c\/i\u003e, DiPietro offers the amateur day trader a brutally honest look at the pitfalls of day trading—and how to hopefully avoid them.  \u003c\/p\u003e\u003cp\u003eWritten in an engaging and sometimes humorous tone, \u003ci\u003eThe Truth About Day Trading Stocks\u003c\/i\u003e draws on the author's own experiences as a day trader to offer a clear-cut departure from typical \"golden goose\" strategies promising instant wealth. Instead, he attempts to slow down the dangerous fervor of the average amateur and demonstrate the ways you can become a professional and not lose your shirt in the process. \u003ci\u003eThe Truth About Day Trading Stocks\u003c\/i\u003e shows how trading decisions are bent and shaped by emotions, and why it is critical to know yourself, understand risk, and remember that increasing your skill level is a gradual, ongoing process—there's always more to learn! After dispensing with popular illusions, DiPietro proceeds to offer realistic, practical trading advice—comparing pay-per-trade with pay-per-share brokers, determining which works best and when, offering suggestions on how to avoid the prospect of perfect trades turning ugly, and more. At the end of the book, he also includes a section called \"Rules to Remember,\" a list of over eighty rules, simply stated and easy to grasp, to benefit amateurs' performance.  \u003c\/p\u003e\u003cp\u003eThroughout the book, the author describes his development of acute self-awareness while figuring out how to succeed. Through that blunt self-portrayal, the goal of \u003ci\u003eThe Truth About Day Trading Stocks\u003c\/i\u003e is to help you create a disciplined mind-set and apply it to your own successful trading style. \u003c\/p\u003e\u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003eIntroduction: The Wholehearted Amateur 1\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Psychological Truths and What to Do about Them 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Truths about Yourself to Know First 7\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow Often Do You Trade, and How Profitably? 10\u003c\/p\u003e \u003cp\u003eHow Much Are You Trading in Capital and Leverage? 10\u003c\/p\u003e \u003cp\u003eHow Long Have You Been Trading? 12\u003c\/p\u003e \u003cp\u003eWhat Financial Instruments Are You Trading? 13\u003c\/p\u003e \u003cp\u003eAre You Trading Other Peoples’ Money or Your Personal Capital? 13\u003c\/p\u003e \u003cp\u003eAre You a Licensed Trader, or Trading Independently? 13\u003c\/p\u003e \u003cp\u003eHow Were You Trained? 14\u003c\/p\u003e \u003cp\u003eRules to Remember 14\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 How Emotions Can Destroy a Trade 15\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Fear Factor 16\u003c\/p\u003e \u003cp\u003eGreed Is Not Good 18\u003c\/p\u003e \u003cp\u003eRules to Remember 21\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Preventing Overconfidence 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIgnoring Your Predetermined Stop\/Loss Price 24\u003c\/p\u003e \u003cp\u003eHolding Too Long 24\u003c\/p\u003e \u003cp\u003eRules to Remember 26\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 From Impatient to Cool, Calm, and Collected 27\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Waiting Is the Hardest Part 29\u003c\/p\u003e \u003cp\u003eDeciding to Learn More 31\u003c\/p\u003e \u003cp\u003eRules to Remember 33\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Taking Breaks 35\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBreak When Your Confidence Is Low 38\u003c\/p\u003e \u003cp\u003eBreak Because It’s Just Not Working 38\u003c\/p\u003e \u003cp\u003eBreak and Then What? 39\u003c\/p\u003e \u003cp\u003eRules to Remember 42\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II The Truth about Your Risk 43\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 The Importance of Risk Management 45\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Amount of Trading Capital Allocated to Each Trade 46\u003c\/p\u003e \u003cp\u003eThe Timing for Allocating Capital to a Trade 47\u003c\/p\u003e \u003cp\u003eOverexposure to Risk 48\u003c\/p\u003e \u003cp\u003eThe Stock or Company You’re Trading 49\u003c\/p\u003e \u003cp\u003eThe Time of Day You’re Trading 49\u003c\/p\u003e \u003cp\u003eGambling 50\u003c\/p\u003e \u003cp\u003eRules to Remember 51\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Why Overexposure to the Market Can Hurt 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTime versus Timing 54\u003c\/p\u003e \u003cp\u003eRules to Remember 58\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Budgeting: Knowing Your Financial Limitations 59\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDon’t Quit Your Day Job: Catch- 22 60\u003c\/p\u003e \u003cp\u003eCrunching the Numbers 62\u003c\/p\u003e \u003cp\u003eCushion Cash 63\u003c\/p\u003e \u003cp\u003eRules to Remember 64\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Minimizing Your Risk with Stop\/Loss 65\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMaking Stop\/Loss Automatic 65\u003c\/p\u003e \u003cp\u003eRules to Remember 71\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Averaging-Down: A Skilled Strategy 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTo Average-Down Successfully Takes Mastery 74\u003c\/p\u003e \u003cp\u003eKnow-How Doesn’t Grow Overnight 75\u003c\/p\u003e \u003cp\u003eRules to Remember 77\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Gambling versus Day Trading 79\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRules to Remember 82\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III Intraday Trading Truths 83\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Why Some Traders Make More Mistakes 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePick Your Stocks Carefully 86\u003c\/p\u003e \u003cp\u003eFocus, Focus, Focus 87\u003c\/p\u003e \u003cp\u003ePay Attention to Market-Moving News 90\u003c\/p\u003e \u003cp\u003eRules to Remember 91\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Trading Consistently All Day 93\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRules to Remember 98\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Stock Picking: Simplifying the Process 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eYour Stock Should Have an Average Daily Volume of One Million Shares or More 100\u003c\/p\u003e \u003cp\u003eChoose Stocks between $10 and $ 100 101\u003c\/p\u003e \u003cp\u003ePick Stocks That Display Tradable Intraday Price Swings 102\u003c\/p\u003e \u003cp\u003eDon’t Trade Stocks Affected by Strict Federal Regulations 102\u003c\/p\u003e \u003cp\u003eBeware of Stocks Directly Affected by Current News Headlines 104\u003c\/p\u003e \u003cp\u003eRules to Remember 105\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Why News Can Be Just Noise 107\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTrading on News versus Monitoring News 109\u003c\/p\u003e \u003cp\u003eRules to Remember 111\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV The Truth about Training and Preparation 113\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 About Those Training Programs 115\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSeminars for the Greenhorns 116\u003c\/p\u003e \u003cp\u003eTraining Programs for the More Experienced Trader 119\u003c\/p\u003e \u003cp\u003eTips for Selecting the Right Program 120\u003c\/p\u003e \u003cp\u003eRules to Remember 123\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 Picking the Right Online Broker: Pay-per-Share versus Pay-per-Trade 125\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStarting Out with Pay-per-Trade 125\u003c\/p\u003e \u003cp\u003eTransitioning to Pay-per-Share 126\u003c\/p\u003e \u003cp\u003eHigh Leverage Pros and Cons 130\u003c\/p\u003e \u003cp\u003eHang on to Your Pay-per-Trade Account 131\u003c\/p\u003e \u003cp\u003eRules to Remember 132\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18 Paper-Trading Strategy 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePaper Trading for the Amateur 134\u003c\/p\u003e \u003cp\u003eA Word about Advanced Paper Trading 139\u003c\/p\u003e \u003cp\u003eRules to Remember 140\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19 Trading for Skill versus Trading for Income 141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBuilding a Foundation of Trading Skills 141\u003c\/p\u003e \u003cp\u003eFirst Level 144\u003c\/p\u003e \u003cp\u003eSecond Level 146\u003c\/p\u003e \u003cp\u003eThird Level 147\u003c\/p\u003e \u003cp\u003eSummary 148\u003c\/p\u003e \u003cp\u003eRules to Remember 150\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20 The Perfect Trading Day 151\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEarly Morning Activities 151\u003c\/p\u003e \u003cp\u003ePre-market Trading 153\u003c\/p\u003e \u003cp\u003eThe Opening Bell 156\u003c\/p\u003e \u003cp\u003eMidday Activities 157\u003c\/p\u003e \u003cp\u003eThe Last Hour of Trading 159\u003c\/p\u003e \u003cp\u003eThe Closing Bell 160\u003c\/p\u003e \u003cp\u003eAfter-Market Trading 160\u003c\/p\u003e \u003cp\u003eHomework 161\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21 The Worst Trading Day 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEarly Morning Activities 163\u003c\/p\u003e \u003cp\u003ePremarket Trading 164\u003c\/p\u003e \u003cp\u003eThe Opening Bell 166\u003c\/p\u003e \u003cp\u003eMidday Activities 166\u003c\/p\u003e \u003cp\u003eLast Hour of Trading 167\u003c\/p\u003e \u003cp\u003eThe Closing Bell 168\u003c\/p\u003e \u003cp\u003eAfter-Market Trading 168\u003c\/p\u003e \u003cp\u003eHomework 169\u003c\/p\u003e \u003cp\u003eConclusion: Parting Words 171\u003c\/p\u003e \u003cp\u003eAppendix: Rules to Remember 175\u003c\/p\u003e \u003cp\u003eAbout the Author 181\u003c\/p\u003e \u003cp\u003eIndex 183\u003c\/p\u003e  \u003cp\u003e\"DiPietro gives an insight int to what it takes to become a day trader. And he should know....\" (\u003cem\u003eCity A.M.,\u003c\/em\u003e July 27th 2009)    \u003c\/p\u003e\u003cp\u003e\u003cb\u003eJOSH D\u003csmall\u003eI\u003c\/small\u003ePIETRO\u003c\/b\u003e has been day trading stocks for ten years. He operates a web site (www.daytraderjosh.com) and provides training programs for aspiring day traders. DiPietro's trading approach involves making many trades every day, taking small profits, exiting losing trades quickly, and minimizing transaction costs. He is a critic of the educational paths offered by the established trading industry and is dedicated to providing an alternative educational approach for aspiring traders.     \u003c\/p\u003e\u003cp\u003e\u003cb\u003eThe Truth About Day Trading Stocks\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eA realistic guide to day trading today's stock market\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003eIn terms of the potential for heavy financial losses, day trading is a high-risk profession. No one should contemplate day trading without giving thought to the ways he can lose, and all the ways to lessen or avoid them. Yet many people enter the game with unrealistic expectations, unaware of what it takes to succeed. Seminars and software alone do not make a successful day trader, cautions author Josh DiPietro. Instead, a trader must learn hard lessons of self-discipline, consistency, and staying in the game for the long haul to have a real chance of success. In \u003ci\u003eThe Truth About Day Trading Stocks\u003c\/i\u003e, DiPietro offers the amateur day trader a brutally honest look at the pitfalls of day trading—and how to hopefully avoid them.  \u003c\/p\u003e\u003cp\u003eWritten in an engaging and sometimes humorous tone, \u003ci\u003eThe Truth About Day Trading Stocks\u003c\/i\u003e draws on the author's own experiences as a day trader to offer a clear-cut departure from typical \"golden goose\" strategies promising instant wealth. Instead, he attempts to slow down the dangerous fervor of the average amateur and demonstrate the ways you can become a professional and not lose your shirt in the process. \u003ci\u003eThe Truth About Day Trading Stocks\u003c\/i\u003e shows how trading decisions are bent and shaped by emotions, and why it is critical to know yourself, understand risk, and remember that increasing your skill level is a gradual, ongoing process—there's always more to learn! After dispensing with popular illusions, DiPietro proceeds to offer realistic, practical trading advice—comparing pay-per-trade with pay-per-share brokers, determining which works best and when, offering suggestions on how to avoid the prospect of perfect trades turning ugly, and more. At the end of the book, he also includes a section called \"Rules to Remember,\" a list of over eighty rules, simply stated and easy to grasp, to benefit amateurs' performance.  \u003c\/p\u003e\u003cp\u003eThroughout the book, the author describes his development of acute self-awareness while figuring out how to succeed. Through that blunt self-portrayal, the goal of \u003ci\u003eThe Truth About Day Trading Stocks\u003c\/i\u003e is to help you create a disciplined mind-set and apply it to your own successful trading style.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990358180069,"sku":"NP9780470448489","price":63.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470448489.jpg?v=1761787498","url":"https:\/\/k12savings.com\/products\/the-truth-about-day-trading-stocks-isbn-9780470448489","provider":"K12savings","version":"1.0","type":"link"}